Royalty Pharma plc

We are the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry. Since our founding in 1996, we have pioneered the royalty market, collaborating with innovators ranging from academic institutions, research hospitals, and not-for-profits to small and mid-cap biotechnology companies and leading global pharmaceutical companies. Our portfolio includes royalties on over 35 commercial products, such as Vertex's Trikafta and Alyftrek, GSK's Trelegy, Biogen's Tysabri and Spinraza, Roche's Evrysdi, Astellas and Pfizer's Xtandi, Johnson & Johnson's Tremfya, AbbVie and Johnson & Johnson's Imbruvica, Servier's Voranigo, Gilead's Trodelvy, Amgen's Imdelltra, and Alnylam's Amvuttra. We also hold royalties on 20 development-stage product candidates. Our investment approach is highly selective, focusing on identifying and tracking important new therapies. Our business model, refined over more than 30 years, combines a unique structure, long investment time horizon, structuring flexibility, scale, diversification, and a singular focus on biopharmaceuticals. This is supported by an investment platform built on deep life sciences expertise, talent, extensive industry relationships, an industrialized investment process, and proprietary data and analytics. In 2025, we generated $3.3 billion in Portfolio Receipts, which represents our ability to generate cash from portfolio investments, excluding $511 million from the sale of MorphoSys Development Funding Bonds. Portfolio Receipts are defined as the sum of Royalty Receipts and milestones and other contractual receipts.